ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday arrived in Dubai to attend the United Nations climate conference scheduled to be held between Nov. 30 and Dec. 12, with the participation of around 70,000 people, including global leaders, academics and youth representatives.
According to officials in Islamabad, Pakistan will set up its own pavilion and focus on critical issues to help countries across the world build climate resilience together.
Mitigating the impact of climate change has become a major priority for the government after the country was hit unprecedented monsoon rains and floods that caused massive infrastructure and agricultural losses last year.
Kakar will attend the COP28 conference where he will spearhead Pakistan’s delegation and present its case.
Minister for Justice of the United Arab Emirates H.E. Abdullah Sultan bin Awad Al Nuaimi, Pakistan’s Ambassador to the UAE and the Pakistani diplomatic staff welcomed the Prime Minister at Dubai’s Al-Maktoum Airport,” said a brief statement issued after the Pakistani PM’s arrival.
“The Prime Minister will attend the World Climate Action Summit on December 1 and 2,” it added.
Kakar, who is on a week-long visit to the Middle East to sign multibillion-dollar deals, is accompanied by Foreign Minister Jalil Abbas Jilani, Finance Minister Dr. Shamshad Akhtar, Climate Change Minister Ahmed Irfan Aslam and Energy Minister Muhammad Ali.
The Pakistani delegation plans to call for an early operationalization of the loss and damage fund to help countries vulnerable to climate change deal with natural disasters caused by erratic weather conditions.
It also intends to argue for the inclusion of developing countries in the fund, diverging from developed nations’ focus only on the least developed states.
Prior to arriving in Dubai, the prime minister held some vital meetings with the top Kuwaiti leaders and witnessed the signing of ten major investment deals in the Gulf country.
Pakistan PM arrives in Dubai to attend major UN climate conference
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Pakistan PM arrives in Dubai to attend major UN climate conference
- Pakistan will set up its own pavilion at the event and focus on building climate resilience with other states
- Prime Minister Kakar will attend the World Climate Action Summit beginning on Dec. 1 at COP28 conference
Pakistan pitches digital finance reforms to foreign fintech investors
- Khurram Schehzad highlights progress on digital banking and plans for regulating blockchain and virtual assets
- Visiting delegation welcomes policy clarity, sees scope for long-term investment and partnerships in Pakistan
KARACHI: Pakistan on Saturday pitched its digital finance and fintech reforms to foreign investors as part of a broader effort to attract capital after macroeconomic stabilization, with a senior official highlighting progress on digital banking, payments infrastructure and regulatory overhaul.
The outreach came as Islamabad seeks to sustain reform momentum following a period of economic stress, positioning technology-led financial inclusion as a pillar of its recovery and growth strategy while courting international investors.
Khurram Schehzad, adviser to the finance minister, briefed a delegation of international fintech investors on Pakistan’s reform agenda and digital growth plans at a meeting in federal capital, according to a statement from the finance ministry.
“Consistent policy implementation and structural reforms have strengthened macroeconomic fundamentals and improved Pakistan’s investment outlook,” he said, highlighting the “renewed global confidence” in the economy.
Officials said the discussions focused on the government’s Digital Pakistan Vision, including efforts to expand digital payments, build public digital infrastructure and digitize government transactions to widen financial inclusion and formalize the economy.
Schehzad cited the role of Raast, Pakistan’s instant payment system, which enables real-time, low-cost and interoperable digital payments nationwide, as well as regulatory reforms introduced by the State Bank of Pakistan to modernize retail digital banking.
Under the new framework, easypaisa Digital Bank has been operational for nearly a year, while Mashreq Digital Bank has also begun operations, with several other digital banks moving toward launch, the statement said.
The adviser also outlined Pakistan’s plans to develop a regulatory framework for blockchain, Web3.0 and virtual assets, saying authorities were engaging with global platforms to support innovation while ensuring compliance and investor protection.
The investor delegation was led by John Sfakianakis, chairman of Fintech Solutions Holding, alongside the company’s chief executive Kirill Smolin, and was facilitated by local technology firm Tech Avenue.
The investors welcomed the “clarity of reforms and policy direction,” saying Pakistan’s combination of macroeconomic stabilization, digital infrastructure and emerging technologies offered opportunities for long-term investment and strategic partnerships, the finance ministry said.
